The crypto market has been bullish since Donald Trump won the US presidential election. According to recent trading data, this can be seen in major cryptocurrencies like Bitcoin, which has hit a new All-Time High (ATH), breaking above $93,000.
As reported by Matrixport, Bitcoin is also experiencing a massive surge in trading volume. In the last 24 hours, Bitcoin has recorded a $145 million trading volume, almost 50% above the early August flash crash and beyond the highest point experienced in March this year.
This recent upward rally in Bitcoin’s trading volume shows that investors are bullish for Bitcoin. It also expresses that crypto investors are highly confident in Bitcoin, which could be due to the current positive trend and high adoption of the cryptocurrency.
Bitcoin’s Huge Trading Volume Could Mean Further Price Surge
In past scenarios, Bitcoin expressed bullish momentum right after huge trading volume. With Bitcoin hitting $145 million in trading volume, it might not be any different. Bitcoin is already showing signs of hitting $100,000 before the end of November as investors remain optimistic.
Based on crypto fear & greed data, investors have shown positive sentiment in Bitcoin, which hit above 80 on Tuesday, 12 November 2024. This could mean more investors are investing in Bitcoin as the price rallies towards $100,0000.
Bitcoin Experiences Growing Search Interest and ETF Inflows
Recent data by Google Trends shows an increase in Bitcoin interest. The report shows that more people are showing their interest in Bitcoin than ever. These stats are just 78% lower than the highest search volume in the last five years.
Bitcoin searches hitting new highs after 2 years on @GoogleTrends!
Retail is about to flock in!
Things can get absurd very quick, be prepared! pic.twitter.com/PD54A3BUQ9
— Momin (@mominsaqib) November 12, 2024
The search volume statistics show that more people are aware of and consider Bitcoin a great investment opportunity. With more retail investors now fueled by the Fear of Missing Out (FOMO), Bitcoin could experience higher search volumes in the coming days.
Bitcoin ETFs are also experiencing more inflows. Bitcoin ETFs have seen ETF inflows surpassing $1 billion in the past two days due to more institutional investors adopting Bitcoin.
According to the recent surge in Bitcoin’s trading volume, search volumes, and ETF inflows, Bitcoin has cemented its position as a great investment. As we progress towards the end of the month, investors and traders expect more positive price action from Bitcoin.
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